But growth needs to be handled carefully, according to the CIPD. Other new figures released today show that having a clear purpose and values is key to the success of SMEs.
They guide how work gets done, influence the satisfaction and retention of an organisation’s people and ultimately steer a business towards achieving its goals.
However, with workforce growth there is a risk that the organisation’s purpose and values can become diluted and even disappear over time. Small businesses need to do more to articulate these business fundamentals and maintain them through growth.
More than 77 per cent agree that their business success hinges on them staying true to their vision and values and say that this is something they will need to actively focus on as they grow (79 per cent). However, 17 per cent believe their colleagues would struggle to articulate what their company’s vision and values actually are.
The figures suggest that growth has an impact on how in tune people feel with the company they work for. People working for very small (nine or less employees) or large organisations (more than 100 employees) feel a very strong connection with their organisation and its raison d’être.
However, the survey shows this connection can become weaker and requires earlier attention in the interval stages of workforce growth.
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